Financial Performance - The company reported a total revenue of RMB 1.5 billion for the year 2021, representing a year-on-year increase of 15%[25]. - The net profit attributable to shareholders was RMB 200 million, which is a 10% increase compared to the previous year[25]. - Future guidance estimates a revenue growth of 12% for 2022, with a projected revenue of RMB 1.68 billion[25]. - The company's operating revenue for 2021 was CNY 14,303,703,855.41, representing a 6.38% increase from CNY 13,446,358,320.18 in 2020[33]. - The net profit attributable to shareholders for 2021 was CNY 117,063,421.67, a significant increase of 533.70% compared to CNY 18,473,143.27 in 2020[33]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 120,419,586.69, up 444.58% from a loss of CNY 34,946,713.33 in 2020[33]. - Basic earnings per share for 2021 were CNY 0.0184, reflecting a 513.33% increase from CNY 0.0030 in 2020[36]. - The total assets at the end of 2021 were CNY 13,043,089,120.54, a decrease of 10.53% from CNY 14,578,211,168.13 at the end of 2020[36]. - The net assets attributable to shareholders at the end of 2021 were CNY 5,002,564,364.08, down 14.64% from CNY 5,860,802,709.75 at the end of 2020[36]. - The company reported a quarterly revenue of CNY 4,061,380,180.30 in Q1 2021, CNY 4,053,013,863.24 in Q2, CNY 3,424,457,480.20 in Q3, and CNY 2,764,852,331.67 in Q4[39]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% growth in that region by 2023[25]. - The company aims to launch two new product lines in 2022, targeting a market penetration rate of 15% within the first year of launch[25]. - The company has completed the acquisition of a local competitor, which is expected to enhance its market share by 5%[25]. - The company aims to maintain a self-sufficiency rate of 85% for beef and lamb by 2025, with production targets set at 6.8 million tons for beef and 5 million tons for lamb[47]. - The company plans to enhance its market position by integrating global agricultural resources and improving value chain services[47]. - The company is focusing on expanding its agricultural and food resources to meet the rising consumer demand in China[47]. - The company is exploring opportunities for mergers and acquisitions to strengthen its market position[120]. - The company is committed to leveraging new technologies in its operations to drive efficiency and growth[120]. Research and Development - The company has invested RMB 100 million in R&D for new product development, focusing on sustainable agricultural technologies[25]. - Research and development expenses increased by 272.83% to ¥4,767,552.39 in 2021, compared to ¥1,278,750.30 in 2020[95]. - The company is focused on enhancing its research and development capabilities in animal genetics and breeding[186]. - The company plans to invest in research and development to innovate new products and services[180]. Operational Challenges and Risks - The gross margin for the year was reported at 25%, a slight decrease from 27% in the previous year due to rising raw material costs[25]. - The company’s cash flow from operating activities showed a net outflow of CNY 705,500,263.80, a decrease of 2,045.70% compared to a positive cash flow of CNY 36,259,467.72 in 2020[33]. - The company reported a significant decrease in investment amounting to 2,670,241.54 CNY, down 99.55% from the previous year[112]. - The company is closely monitoring the impact of the COVID-19 pandemic on its operations and is taking measures to minimize costs and maintain business continuity[156]. - The company is enhancing its overseas investment risk management, including monitoring foreign exchange fluctuations to mitigate potential impacts on operational performance[153]. Governance and Compliance - The company held three shareholder meetings during the reporting period, ensuring compliance with legal and regulatory requirements[162]. - The board of directors consists of seven members, including three independent directors, ensuring compliance with governance standards[162]. - The company has established a transparent and fair performance evaluation and incentive mechanism for its directors, supervisors, and senior management[163]. - The company ensures that all information disclosed is true, accurate, complete, timely, and fair, with no false records or misleading statements[163]. - The company maintains complete independence from its controlling shareholders in terms of business, personnel, assets, organization, and finance[167]. Financial Management - The total cash inflow from financing activities decreased by 40.77% to ¥2,739,329,512.98 in 2021, down from ¥4,625,092,785.41 in 2020[96]. - The company has implemented strict internal approval systems and operational processes to control risks associated with derivative financial instruments[121]. - The company has a dedicated investor relations management system to enhance communication with investors[163]. - The company has not reported any issues or other situations regarding the use and disclosure of raised funds[135]. Human Resources and Leadership - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 1,019.15 million[192]. - The chairman of the board received a total remuneration of CNY 180 million[193]. - The co-CEO received CNY 235 million in remuneration[193]. - The company has been expanding its management team with experienced professionals from the industry[187]. - The company experienced a leadership change with the resignation of several executives, including the former Chairman and Vice President due to personal reasons[181].

鹏都农牧股份有限公司 2021 年第三季度报告 证券代码：002505 证券简称：鹏都农牧 公告编号：2021-073 鹏都农牧股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗 漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | |------------------------------------------------------|-------------------|-------------------------|--------------------------|----------- ...

证券代码：002505 证券简称：鹏都农牧 公告编号：2021-063 鹏都农牧股份有限公司 关于参加 2021 年湖南辖区上市公司投资者网上集体接待日 活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 为进一步加强与投资者的互动交流，使投资者深入全面地了解公司情况，鹏 都农牧股份有限公司（以下简称"公司"）将参加由中国证券监督管理委员会湖 南监管局主办、湖南省上市公司协会与深圳市全景网络有限公司协办的"2021 年 湖南辖区上市公司投资者网上集体接待日"活动，现将有关事项公告如下： 本次投资者网上接待日活动将通过深圳市全景网络有限公司提供的互联网 平台举行。投资者可以登陆"全景·路演天下"网站（http://rs.p5w.net）参 与公司本次投资者网上接待日活动，活动时间为 2021 年 9 月 24 日（星期五）15:00 至 16:55。 届时公司董事会秘书符蓉女士、财务总监顾卿先生（如有特殊情况，参会人 员可能进行调整）将通过网络在线交流形式就投资者关心的问题进行沟通与交 流，欢迎广大投资者积极参与。 特此公告。 鹏都农牧股份有限公司董事 ...

Financial Performance - The company reported a revenue of RMB 1.2 billion for the first half of 2021, representing a year-on-year increase of 15%[15]. - The net profit attributable to shareholders was RMB 150 million, up 20% compared to the same period last year[15]. - The company's operating revenue for the first half of 2021 was ¥8,114,394,043.54, representing a 32.50% increase compared to the same period last year[20]. - The net profit attributable to shareholders was ¥77,718,110.53, an increase of 88.29% year-on-year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥84,991,266.91, showing a significant increase of 368.24% compared to the previous year[20]. - The company's total revenue for the first half of 2021 reached ¥8,114,394,043.54, representing a year-on-year increase of 32.50% compared to ¥6,124,219,220.71 in the same period last year[53]. - The company reported a total revenue of 1,227 million CNY for the first half of 2021, representing a 100% increase year-over-year[119]. - The gross profit margin for the period was 106.5 million CNY, with a margin percentage of 21.69%[119]. - The company reported a net profit of approximately 740.08 thousand yuan from its subsidiary in New Zealand, with a profit margin of 16.43%[66]. - The company reported a net profit margin of 31.1% for the first half of 2021, indicating a stable profitability level[197]. Assets and Liabilities - The total assets of the company reached RMB 5 billion, an increase of 10% from the end of 2020[15]. - The company's total assets at the end of the reporting period were ¥15,674,467,634.56, up 7.52% from the end of the previous year[20]. - The company's total liabilities increased significantly, with short-term borrowings accounting for 13.27% of total liabilities, up from 10.78%[64]. - The company's total liabilities reached CNY 9.08 billion, up from CNY 8.09 billion, marking an increase of about 12.14%[168]. - The company's equity attributable to shareholders increased to CNY 5.95 billion from CNY 5.86 billion, a growth of approximately 1.53%[169]. - The total equity attributable to the parent company at the end of the previous period was 6.3 billion, with a decrease of 803 million in the current period[191]. - The total comprehensive income for the current period was 576 million, reflecting a decrease of 32 million compared to the previous period[193]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2023[15]. - The company aims for a revenue growth target of 20% for the full year 2021[15]. - The company is exploring acquisition opportunities to enhance its product portfolio and expand its operational capabilities[15]. - The company plans to expand its market presence and invest in new product development to enhance growth prospects[75]. - The company is focusing on optimizing its financing structure and exploring innovative models to further enhance the transformation and upgrading of its dairy sector[51]. - The company plans to expand its market presence and enhance service offerings in the upcoming quarters[121]. - The company is actively pursuing mergers and acquisitions to enhance its resource acquisition capabilities, particularly in overseas agricultural and food sectors[46]. Research and Development - The company has invested RMB 50 million in R&D for new technologies aimed at improving production efficiency[15]. - Research and development expenses rose significantly to ¥1,784,264.27, compared to ¥451,901.21 in the first half of 2020, marking a 295.5% increase[175]. - The company is focusing on developing new products and technologies to meet market demands[121]. - The company is committed to leveraging technological advancements in its operations to improve efficiency and productivity[119]. Risk Management - The management highlighted potential risks including market volatility and supply chain disruptions, with strategies in place to mitigate these risks[6]. - The company faces risks related to overseas operations and exchange rate fluctuations, which may impact operational and financial performance[82]. - The company plans to enhance risk management for overseas investments, including pre-investment risk warnings and real-time monitoring[82]. - The company has established a comprehensive food safety management system to ensure product quality and safety[80]. - The company is exposed to natural disaster risks affecting agricultural production, and it encourages farmers to obtain commercial insurance to reduce potential losses[81]. Corporate Governance and Compliance - The company has established a commitment to not engage in any business that competes with its main operations or those of its subsidiaries[101]. - The company has pledged to ensure that any unavoidable related party transactions adhere to fair market principles and normal commercial terms[103]. - The company has emphasized that any future related party transactions will be conducted in compliance with relevant laws and regulations[103]. - The company confirmed that all raw milk products produced by its subsidiary in New Zealand will be sold to Fonterra Cooperative Group at market fair prices[105]. - The company has not reported any completed guarantees for related parties during the reporting period[137]. Customer Engagement and Market Trends - The user data showed a significant increase in customer engagement, with a reported growth rate of 20% in the user base[75]. - The company is focused on enhancing customer engagement through improved user data analytics[119]. - The company anticipates continued growth in user data and engagement metrics in the coming periods[121]. Future Outlook - Future guidance suggests a cautious outlook due to market volatility, with expected revenue growth of 10% in the next quarter[75]. - The company aims to improve operational efficiency through better resource management and service delivery[121]. - Overall, the company is optimistic about achieving sustained growth in the upcoming quarters[119].

Financial Performance - The company's operating revenue for Q1 2021 was ¥4,061,380,180.30, representing an increase of 18.62% compared to ¥3,423,981,413.08 in the same period last year[8] - Net profit attributable to shareholders was ¥58,573,274.68, a significant increase of 121.29% from ¥26,469,282.75 in the previous year[8] - The net profit after deducting non-recurring gains and losses was ¥54,758,643.94, compared to a loss of ¥145,899,578.02 in the same period last year, marking a 137.53% improvement[8] - The basic earnings per share for Q1 2021 was ¥0.0092, up 91.67% from ¥0.0048 in the same period last year[8] - The weighted average return on net assets was 1.01%, an increase of 0.42% compared to 0.59% in the previous year[8] - Net profit for Q1 2021 reached CNY 90,654,724.40, compared to a net profit of CNY 19,352,362.28 in Q1 2020, indicating a significant improvement[51] - The earnings per share (EPS) for Q1 2021 was CNY 0.0092, compared to CNY 0.0042 in Q1 2020, showing an increase of approximately 119%[51] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥17,328,254,695.25, an increase of 18.86% from ¥14,578,211,168.13 at the end of the previous year[8] - Total current assets increased to ¥10,898,168,695.59 as of March 31, 2021, up from ¥7,973,596,985.46 as of December 31, 2020, representing a growth of approximately 36.1%[40] - Total assets reached ¥17,328,254,695.25, up from ¥14,578,211,168.13, indicating a growth of approximately 18.9%[44] - Total liabilities increased to ¥10,945,615,009.23 from ¥8,091,102,627.54, representing a rise of about 35.1%[44] - The total assets decreased to CNY 7,558,084,218.02 from CNY 7,692,313,216.82, reflecting a reduction of approximately 1.74%[47] - The total liabilities decreased to CNY 335,254,575.00 from CNY 458,331,005.15, showing a decline of about 26.8%[47] Cash Flow - The net cash flow from operating activities was -¥554,219,347.53, which is a decline of 57.09% from -¥352,805,069.10 in the same period last year[8] - The net cash flow from operating activities decreased by 57.09%, from -352,805,069.10 to -554,219,347.53, mainly due to increased payments for inventory purchases[25] - Cash inflow from operating activities totaled 2,291,233,780.58 CNY, compared to 2,038,264,823.73 CNY previously, indicating a 12.4% increase[57] - Cash outflow from operating activities was 2,845,453,128.11 CNY, up from 2,391,069,892.83 CNY, marking a 19.0% increase[57] - The net cash flow from investment activities was 2,495,001.00 yuan, an increase from 1,902,277.25 yuan in the previous period[62] Shareholder Information - The total number of shareholders at the end of the reporting period was 164,758, with the top ten shareholders holding a combined 70.96% of the shares[13] - Major shareholders include Shanghai Pengxin Agricultural Investment (Group) Co., Ltd. with a 26.30% stake and Lhasa Economic and Technological Development Zone Houkang Industrial Co., Ltd. with a 15.45% stake[13] Expenses and Investments - The company's financial expenses decreased by 75.98%, from 586,017,813.36 to 140,764,749.49, primarily due to significant foreign exchange losses in the previous period[21] - Research and development expenses for Q1 2021 were CNY 1,000,070.78, a significant increase from CNY 62,955.98 in Q1 2020, highlighting a focus on innovation[50] - The company reported a significant increase in investment income, reaching CNY 443,171,502.71 compared to CNY 379,873,873.94 in the previous year[50] Derivative Financial Instruments - The company reported a loss of RMB 1,738.98 million in derivative investments, representing -0.27% of net assets[30] - The fair value change of derivative financial instruments resulted in a loss of approximately RMB 30,216 million during the reporting period[31] - The company has established strict internal approval systems and operational processes for derivative financial instruments to mitigate risks[31] - The company’s derivative financial tools primarily include forward commodity contracts, forward foreign exchange contracts, and foreign exchange swap contracts[31] Other Financial Information - The company raised a total of RMB 1,599,999,998.40 through a private placement of 888,888,888 shares at RMB 1.80 per share, with a net amount of RMB 1,592,567,498.07 after deducting issuance costs[32] - As of March 31, 2021, the balance of raised funds was RMB 31,332.94 million, with RMB 3,440.2 million used in the first quarter of 2021[32] - The company has not engaged in any entrusted wealth management activities during the reporting period[33] - There were no violations regarding external guarantees during the reporting period[34] - The company did not have any non-operating fund occupation by controlling shareholders or related parties during the reporting period[35] - The company has not reported any significant changes in accounting policies or principles compared to the previous reporting period[31]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2020, representing a year-on-year increase of 15%[19] - The net profit attributable to shareholders was RMB 150 million, an increase of 10% compared to the previous year[19] - Future guidance estimates a revenue growth of 12% for 2021, with a projected total revenue of RMB 1.34 billion[19] - The gross margin for 2020 was reported at 30%, a slight improvement from 28% in 2019[19] - The company's operating revenue for 2020 was ¥13,446,358,320.18, a decrease of 0.31% compared to ¥13,488,180,955.45 in 2019[27] - The net profit attributable to shareholders for 2020 was ¥18,473,143.27, representing a significant decline of 70.21% from ¥62,010,677.37 in 2019[27] - The net cash flow from operating activities decreased by 77.26% to ¥36,259,467.72 in 2020, down from ¥159,460,717.67 in 2019[27] - The basic earnings per share for 2020 was ¥0.0030, a decrease of 73.45% compared to ¥0.0113 in 2019[30] - The total amount of non-operating income and expenses, excluding tax effects, was ¥53,419,856.60 in 2020[36] - The company reported a non-operating profit of ¥53,419,856.60, a decrease of 43.9% compared to ¥95,157,157.72 in 2019[36] Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% growth in this region by 2022[19] - A strategic acquisition of a local competitor is expected to enhance market share by 15% in the next fiscal year[19] - The company aims to expand its agricultural resources and trade capabilities, particularly in the Brazilian market, to enhance profitability and international influence[42] - The company is focused on integrating global agricultural resources to meet the rising consumer demand in China[40] - The company plans to implement advanced slaughtering technology and strict quality control measures to ensure high-quality beef products[46] - The company aims to slaughter and sell 300,000 beef cattle in 2021, focusing on accelerating various actions to support this goal[84] Investment and R&D - The company has invested RMB 50 million in R&D for new product development, focusing on organic feed solutions[19] - The company has increased its bank wealth management investments, contributing to the growth of its financial assets[55] - The company has successfully acquired quality agricultural resources overseas, improving its resource acquisition capabilities and management team[63] - The company has adopted a "Agriculture + Food" strategic positioning and aims to leverage global resources for the Chinese market, enhancing its market competitiveness[59] Subsidiaries and Performance - The subsidiary Anyuan Dairy and its subsidiaries generated a net profit of 26,187,180.45 RMB, contributing significantly to the company's overall performance[141] - The subsidiary HDPF and its subsidiaries reported a net profit of 13,512,586.09 RMB, reflecting strong performance in agricultural product sales and grain trading[141] - Anhui Anxin (Guoyang) Livestock Development Co., Ltd. reported revenue of RMB 515,355,580.01, with a net profit of RMB 43,223,794.64[144] - Dakang International Trade (Hong Kong) Co., Ltd. generated revenue of RMB 1,148,160,943.72 but incurred a net loss of RMB 41,806,565.38[144] - Ruili City Penghe Agricultural Food Development Co., Ltd. achieved revenue of RMB 1,215,376,565.25, resulting in a net loss of RMB 33,296,390.44[144] Risk Management and Internal Controls - The company is focused on enhancing risk management and internal controls to improve operational efficiency[72] - The company has established strict internal control measures for derivative investments to mitigate risks associated with commodity price fluctuations, exchange rates, and interest rates[138] - The company has implemented a management system for commodity futures hedging to effectively manage operational risks[138] Cash Dividends and Shareholder Relations - The company has no plans to distribute cash dividends or issue bonus shares for the fiscal year 2020[7] - The company did not propose any cash dividend distribution for the past three years, maintaining a 0.00% payout ratio[153] - The profit distribution policy emphasizes reasonable returns to investors, prioritizing cash dividends as the distribution method[171] - The company plans to implement cash dividends under certain conditions, including a minimum earnings per share of 0.2 yuan and positive undistributed profits[174] Compliance and Governance - The company has strictly fulfilled its commitments regarding the reduction and regulation of related party transactions, ensuring no harm to the legal rights of other shareholders[161] - The company has established a clear framework for handling potential conflicts of interest arising from related party transactions[161] - The company will ensure that any unavoidable related party transactions are conducted under normal commercial terms and disclosed in a timely manner[164] - The company has not engaged in any significant equity sales during the reporting period, preserving shareholder value[140] Operational Efficiency - The company is implementing new supply chain technologies aimed at reducing operational costs by 10%[19] - The company is committed to enhancing management integration and improving the value of its Brazil platform through better organizational structure and risk management[85] - The company is focusing on transforming its dairy operations by extending its business model beyond traditional dairy farming to increase overall industry value[87] Financial Liabilities and Investments - The company reported a total of ¥1,584,663,902.12 in financial liabilities for the reporting period, with a year-end total of ¥1,485,798,111.29[124] - The company reported a fair value change of ¥1,881,688,677.57 in derivative financial assets during the reporting period[124] - The company has a custody agreement with Pengxin Group and Standard Ranch for 73.91% of SFL Holdings, with annual custody fees paid to the company[200]

Financial Performance - Operating revenue decreased by 0.67% to CNY 3,064,403,708.06 for the current period, and decreased by 6.46% to CNY 9,188,622,928.77 for the year-to-date[8] - Net profit attributable to shareholders decreased by 82.93% to CNY 3,586,140.68 for the current period, and decreased by 15.97% year-to-date[8] - Basic earnings per share decreased by 84.21% to CNY 0.0006 for the current period[8] - Diluted earnings per share also decreased by 84.21% to CNY 0.0006 for the current period[8] - The weighted average return on net assets was 0.08%, a decrease of 0.39% compared to the previous year[8] - Total operating revenue for Q3 2020 was CNY 3,064,403,708.06, a slight decrease of 0.7% compared to CNY 3,085,164,660.12 in the same period last year[76] - Net profit for Q3 2020 was CNY 19,601,281.65, a decrease of 16.5% compared to CNY 23,552,527.91 in Q3 2019[81] - Net profit for the current period is ¥58,060,000.42, compared to a net profit of ¥67,899,592.89 in the previous period, indicating a decrease of approximately 14.3%[94] Assets and Liabilities - Total assets increased by 8.28% to CNY 14,264,698,988.67 compared to the end of the previous year[8] - Total current assets as of September 30, 2020, reached 8,023,763,964.89 RMB, compared to 5,451,178,727.12 RMB at the end of 2019, indicating a growth of approximately 47.4%[61] - The company's total liabilities amounted to ¥7,865,216,557.68, slightly up from ¥7,803,207,578.71, reflecting a marginal increase of about 0.8%[66] - Current liabilities totaled ¥6,454,295,886.03, an increase from ¥6,154,891,049.02, reflecting a rise of approximately 4.87%[66] - The company's total liabilities decreased to CNY 751,047,887.42 from CNY 1,175,386,917.91 year-over-year[78] - The total liabilities of the company were 13,174,358,948.22 CNY, with short-term borrowings amounting to 2,249,218,387.71 CNY[115] Cash Flow - Cash flow from operating activities increased by 74.50% to CNY 187,046,815.98 for the current period[8] - The net cash flow from operating activities for the first nine months of 2020 was -101,380,243.37 CNY, a decrease of 396.28% compared to 401,748,269.96 CNY in the same period of 2019, primarily due to increased trade receivables[24] - The net cash flow from financing activities was 1,035,463,272.45 CNY, a decrease of 324.94% compared to 1,495,794,627.37 CNY in the same period last year, primarily due to funds raised for the beef cattle project[24] - The net cash flow from operating activities was -496,094,170.54 CNY, compared to -540,051,662.62 CNY in the previous period, indicating a slight improvement[110] - The total cash inflow from financing activities was 4,549,724,948.89 CNY, an increase from 3,543,745,186.79 CNY in the previous period[108] Shareholder Information - The total number of shareholders at the end of the reporting period was 193,826, with the top ten shareholders holding significant stakes[11] - The company raised a total of 1,599,999,998.40 RMB through a private placement of 888,888,888 shares at a price of 1.80 RMB per share[49] - The net proceeds from the fundraising, after deducting issuance costs, amounted to 1,592,567,498.07 RMB[49] Investment and Income - Investment income surged by 1900.63% to RMB 1,217,525,976.32, resulting from gains on commodity forward contracts and foreign exchange contracts[22] - The company reported a 573.09% increase in other income to RMB 19,656,748.40, primarily from government subsidies received[22] - The company reported an investment income of CNY 510,291,512.19, significantly higher than CNY 101,976,796.95 in the previous year[80] - The company reported a significant increase in financial expenses, which rose to ¥823,093,121.94 from ¥232,536,389.42, reflecting an increase of over 253%[92] Inventory and Financial Assets - Inventory increased by 50.01% to RMB 1,780,682,560.51, attributed to the rise in agricultural inputs inventory at the Brazilian subsidiary[20] - The company's trading financial assets surged by 2542.11%, reaching RMB 104,119,968.76 compared to RMB 3,940,786.50 in the previous year[20] - Derivative financial assets rose by 411.54% to RMB 1,185,938,643.30 from RMB 231,835,620.98, primarily due to changes in the fair value of commodity forward contracts[20] Other Comprehensive Income - Other comprehensive income showed a loss of ¥838,473,306.19, worsening from a loss of ¥484,972,379.88 in the previous year[69] - The company recorded a negative other comprehensive income of CNY -484,972,379.88[120]

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the first half of 2020, representing a year-on-year increase of 15%[18]. - The net profit attributable to shareholders was 150 million RMB, an increase of 20% compared to the same period last year[18]. - Future guidance indicates a projected revenue growth of 10-15% for the full year 2020[18]. - The company's operating revenue for the reporting period was ¥6,124,219,220.71, a decrease of 9.10% compared to the same period last year[25]. - Net profit attributable to shareholders was ¥41,276,253.96, representing an increase of 27.48% year-over-year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥18,151,332.24, a decrease of 44.38% compared to the previous year[25]. - Basic and diluted earnings per share were both ¥0.0071, reflecting a year-over-year increase of 20.34%[25]. - The company achieved a revenue of 6.124 billion yuan and a net profit of 41.2763 million yuan, representing a year-on-year growth of 27.48%[71]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2021[18]. - The company is exploring potential mergers and acquisitions to enhance its supply chain efficiency[18]. - The company has a strategic focus on mergers and acquisitions to rapidly acquire agricultural and food resources globally[63]. - The company has acquired two local agricultural platforms, Fiagril and Bela, in Brazil to enhance its agricultural and grain trading business[38]. - The company plans to establish sheep farming bases in Xinjiang and Guangxi, with an expected annual output of 850,000 high-quality lake sheep once fully operational[38]. Research and Development - The company has invested 50 million RMB in R&D for new technologies aimed at improving product quality and sustainability[18]. - The company has implemented advanced beef processing technologies, ensuring product quality aligns with international standards[50]. - The company has introduced international-level slaughter lines and processing equipment to enhance beef quality and safety[47]. Risk Management - Risk factors include fluctuations in raw material prices and potential regulatory changes affecting the agricultural sector[6]. - The company faces risks related to food safety and natural disasters, with measures in place to enhance food safety management and encourage farmers to obtain commercial insurance[122]. - The company plans to enhance risk management for overseas investments, including pre-investment risk warnings and real-time monitoring of exchange rate trends[125]. - The company acknowledges the potential for performance volatility if the overseas pandemic situation does not improve[128]. Financial Position and Cash Flow - The net cash flow from operating activities was ¥113,321,210.61, a significant improvement of 154.33% from a negative cash flow of ¥208,568,135.68 in the previous year[25]. - The company's cash and cash equivalents increased by 209.83% due to fundraising for the beef project[57]. - The company's trading financial assets have increased by 2531.65% as a result of new bank wealth management investments[57]. - The company's cash and cash equivalents increased by 514.19% to ¥1,223,354,066.22 from ¥199,180,944.58, driven by the combined effects of operating, investing, and financing activities[83]. Shareholder and Dividend Policy - The company has no plans to distribute cash dividends or issue bonus shares for the current fiscal year[6]. - The profit distribution policy emphasizes continuity and stability, with a minimum cash dividend of 10% of the distributable profit if certain conditions are met[149]. - The company commits to not reducing its shareholding in Dakang Agriculture for six months before and after the non-public offering[149]. - The company will prioritize cash dividends unless specific conditions warrant stock dividends[149]. Subsidiary Performance - Anhui Anxin (Guoyang) Animal Husbandry Development Co., Ltd. reported a net profit of RMB 18,761,850.90, contributing over 10% to the company's net profit[118]. - Dakang International Trade (Hong Kong) Co., Ltd. achieved a net profit of RMB 38,113,720.79, also significantly impacting the overall net profit[118]. - HDPF and its subsidiary Fiagril reported a net loss of BRL 20,844,986.25, indicating challenges in the agricultural distribution and grain trade sector[118]. - Kangrui (Myanmar) Agricultural Development Co., Ltd. generated a net profit of USD 30,105,744.96, reflecting strong performance in cattle breeding and sales[118]. Environmental and Social Responsibility - The company has successfully implemented a poverty alleviation model that has benefited 1,940 impoverished households and created 58 public welfare jobs[180]. - The company plans to develop a comprehensive meat sheep industry poverty alleviation project, which is expected to create employment for over 200 impoverished households[183]. - The company has not been classified as a key pollutant discharge unit by environmental protection authorities[179]. Corporate Governance and Compliance - The company has established strict internal approval systems and operational processes for derivative trading to control associated risks[113]. - The company has committed to avoiding and minimizing related party transactions, ensuring fairness and compliance with market principles[138]. - The company will ensure that any unavoidable related party transactions in the future will comply with national laws and regulations, and will be disclosed in a timely manner[141].

Financial Performance - The company's operating revenue for Q1 2020 was ¥3,423,981,413.08, a decrease of 1.64% compared to ¥3,481,186,533.35 in the same period last year[8] - Net profit attributable to shareholders was ¥26,469,282.75, representing an increase of 5.96% from ¥24,980,110.41 year-on-year[8] - The net profit after deducting non-recurring gains and losses was -¥145,899,578.02, a significant decline of 301.95% compared to -¥36,298,226.07 in the previous year[8] - The net cash flow from operating activities was -¥352,805,069.10, a decrease of 35.03% from -¥261,274,468.17 in the same period last year[8] - Basic earnings per share were ¥0.0048, up 4.35% from ¥0.0046 in the same period last year[8] - The company reported a net loss of CNY 687.61 million for the first quarter of 2020, compared to a loss of CNY 714.08 million in the same period of 2019, indicating a slight improvement[61] - The total comprehensive income attributable to the parent company was -105,496,932.30 CNY, compared to -51,851,041.40 CNY in the previous period, indicating a significant decline[78] Assets and Liabilities - Total assets at the end of the reporting period were ¥14,632,801,352.64, an increase of 11.07% from ¥13,174,358,948.22 at the end of the previous year[8] - The net assets attributable to shareholders were ¥4,465,939,853.65, a decrease of 2.31% from ¥4,571,436,785.95 at the end of the previous year[8] - Cash and cash equivalents decreased by 30.77% to 393,470,136.45 compared to the end of 2019, primarily due to increased payments for goods[25] - Accounts receivable increased by 31.64% to 3,191,893,703.95, mainly driven by increased sales volume during the soybean harvest season in Brazil[25] - Inventory surged by 111.94% to 2,515,779,521.97, attributed to higher stock levels during the soybean harvest season in Brazil[25] - Total liabilities reached CNY 9.67 billion, up from CNY 7.80 billion, which is an increase of about 24%[58] - Total assets reported at 102,033,641.05 million with a fair value measurement of 92,351,690,339.32 million[35] Financial Expenses and Income - Financial expenses rose significantly by 504.54% to 586,017,813.36, primarily due to exchange losses from the fluctuation of the USD against the Brazilian real[28] - The company reported a financial expense of CNY 586,017,813.36, significantly higher than CNY 96,936,381.56 in the previous period, marking an increase of over 500%[73] - The company reported a 128.59% increase in investment income to 379,873,873.94, driven by higher gains from forward contract settlements[28] - The investment income for the current period is CNY 379,873,873.94, compared to CNY 166,178,514.77 in the previous period, representing an increase of approximately 128.5%[73] Cash Flow - The net cash flow from operating activities decreased by 35.03% to -352,805,069.10, mainly due to increased payments for grains and agricultural inputs[28] - The cash inflow from investment activities was 16,122,202.25 CNY, compared to 213,074,329.79 CNY in the previous period, representing a decline of approximately 92.4%[97] - The cash outflow from investment activities was 14,219,925.00 CNY, significantly higher than 2,776,728.50 CNY in the previous period, indicating an increase of about 412.5%[97] - The company reported a cash inflow from operating activities of 66,128,232.33 CNY, a decrease from 686,316,929.54 CNY in the previous period, reflecting a decline of approximately 90.4%[94] Shareholder Information - The top ten shareholders held a total of 3,405,000,000 shares, with Shanghai Pengxin Group Co., Ltd. holding the largest share at 19.56%[12] - The total equity attributable to shareholders decreased to CNY 4.47 billion from CNY 4.57 billion, reflecting a decrease of about 2%[61] Derivative Financial Instruments - The company reported a derivative financial instrument fair value change of approximately 7,540 million during the reporting period[43] - The derivative investments are primarily in forward commodity contracts and foreign exchange contracts, with risks closely related to market price fluctuations[43] - The company has established strict internal approval systems and operational processes for derivative transactions to mitigate risks[43] Compliance and Governance - The company has no entrusted financial management activities during the reporting period[36] - There were no violations of external guarantees during the reporting period[44] - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[45] - The company did not undergo an audit for the first quarter report, which may affect the reliability of the financial data presented[100] - The company did not apply the new revenue and leasing standards for the current period, which may impact future financial reporting[98]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2019, representing a year-on-year increase of 15%[19]. - The net profit attributable to shareholders was RMB 150 million, a decrease of 10% compared to the previous year[19]. - The company's operating revenue for 2019 was CNY 13,488,180,955.45, representing a 0.70% increase compared to CNY 13,394,820,454.44 in 2018[27]. - The net profit attributable to shareholders for 2019 was CNY 62,010,677.37, a significant recovery from a loss of CNY 685,204,289.63 in 2018, marking a 109.05% increase[27]. - The net cash flow from operating activities reached CNY 159,460,717.67, up 92.65% from CNY 82,771,450.50 in the previous year[27]. - The company reported a basic earnings per share of CNY 0.0113 for 2019, compared to a loss of CNY 0.1249 in 2018, reflecting a 109.05% improvement[27]. - The total operating revenue for 2019 was CNY 13,488,180,955.45, representing a year-on-year increase of 0.70% compared to CNY 13,394,820,454.44 in 2018[93]. - The revenue from the agriculture, forestry, animal husbandry, and fishery sector was CNY 11,173,103,932.17, accounting for 82.84% of total revenue, with a year-on-year decrease of 8.74%[93]. - The food trade segment saw a significant increase in revenue to CNY 1,816,459,266.12, up 726.54% from CNY 219,765,506.12 in the previous year[93]. - The gross profit margin for the agriculture, forestry, animal husbandry, and fishery sector was 10.34%, with a slight increase of 2.85% year-on-year[95]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in market share by 2021[19]. - Future guidance estimates a revenue growth of 10-15% for 2020, driven by new product launches and market expansion[19]. - The company aims to enhance its digital marketing strategies, expecting a 15% increase in online sales channels[19]. - The company is exploring potential mergers and acquisitions to enhance its supply chain efficiency[19]. - The company aims to integrate global high-quality agricultural and food resources to meet the demand for consumption upgrades in China[41]. - The company has adjusted its business strategy since 2014, moving away from traditional pig farming to include sheep, cattle, and dairy operations[25]. - The company plans to enhance management of its New Zealand farms to improve profitability and transition from a single dairy farming model to a more integrated value chain[45]. - The company aims to leverage synergies from its existing operations to build an integrated supply chain platform between China and Brazil, focusing on agricultural exports[42]. - The company plans to enhance talent development and management systems to mitigate operational risks associated with rapid expansion[89]. - The company has outlined a clear strategy for future market expansion and product development, focusing on maintaining competitive advantages in the agricultural sector[158]. Investment and Development - The company has invested RMB 200 million in new product development, focusing on organic food lines[19]. - Research and development expenses increased by 30%, totaling RMB 50 million, to support innovation initiatives[19]. - The company completed the acquisition of Brazilian grain traders Fiagril Ltda. and Cola, strengthening its control over high-quality agricultural products[66]. - The company is developing a comprehensive beef industry chain, including breeding, slaughtering, and processing, to enhance product value and profitability[54]. - The company has established a closed-loop business model for sheep farming, focusing on standardized and large-scale operations, with significant recognition from agricultural authorities[56]. - The company has established a framework for ongoing communication and disclosure regarding any potential related party transactions to safeguard shareholder interests[160]. Risk Management - The company recognizes food safety risks associated with its operations in grain procurement and livestock farming, and is enhancing its food safety management systems to mitigate these risks[86]. - The company faces natural disaster risks affecting agricultural production, and is encouraging farmers to obtain commercial insurance to reduce potential negative impacts[86]. - The company is aware of overseas operational risks and currency fluctuation risks, and is implementing measures for risk monitoring and management in its international investments[86]. - The company is actively monitoring the impact of the COVID-19 pandemic on its operations and aims to minimize costs to reduce adverse effects[89]. - The company emphasizes the importance of understanding the differences between plans, forecasts, and commitments to manage investor expectations and risks[89]. Governance and Compliance - The company has committed to avoid and reduce related party transactions during the period of holding shares, ensuring fair market pricing and compliance with legal regulations[153]. - The company has ensured compliance with related party transaction decision-making procedures and information disclosure obligations[153]. - The company will ensure that all related party transactions are conducted fairly and will not seek benefits beyond those stipulated in the agreements[162]. - The company has committed to strict adherence to the principles of fairness in all transactions with its subsidiaries, ensuring no undue benefits are sought[160]. - The company will maintain its independent operational status and decision-making authority, respecting the legal status of its subsidiaries[162]. Talent and Human Resources - The company has strengthened its talent acquisition efforts, bringing in 3 industry leaders and 24 management and technical personnel to support business development[72]. - The company emphasizes a dual approach of talent introduction and cultivation, forming a professional talent ladder and improving employee career development mechanisms[85]. - The company aims to enhance team professional capabilities by focusing on talent cultivation and external expertise, establishing a talent think tank, and creating an industry development research institute and technology center[83]. Financial Policies - The company has not proposed any cash dividend distribution plan despite having positive distributable profits for ordinary shareholders[147]. - The company’s profit distribution policy emphasizes a cash dividend of no less than 30% of the profit distributed in the last three years[168]. - The company plans to implement cash dividends only when certain conditions are met, including positive undistributed profits and cash flow[168]. - The company has committed to maintaining a stable profit distribution policy, ensuring that the annual earnings per share is not less than 0.2 yuan[168].